In October, ocean shipping prices continued to normalize across Asia – US and Asia - EMEA lanes. Vessel reliability dropped due to a rail car shortage following the port strike by the ILA on the East and Gulf coasts. Air rates have remained relatively stable, with a small uptick in demand, reflecting a muted holiday season. Meanwhile, domestic USA freight and warehouse demand has seen a small uptick.
Click here to access this month's full update.
Highlights from this month's update:
- Ocean rates continue to normalize on major trade lanes
- USA Over-the-road carriers are facing pricing pressure but may be nearing the supply and demand equilibrium, with potential future rate increases
- Air demand remains elevated with small reduction in rates
- Parcel carriers have recently announced rate increases for 2025 and credit card surcharge amidst a soft demand environment
- Warehousing rates rose slightly as importers prepare for the holiday season
- The incoming US Administration may implement new trade regulations that discourage global shipping in the long run
- Concern remains on possible resumption of the ILA port strike in January 2025, just ahead of the Chinese New Year
Originally published by Linkedin
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